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Ericsson Benefits from Patent Settlement with Samsung

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Shares of Ericsson (ADR) (NASDAQ:ERIC) are outperforming the NASDAQ this morning as a result of settling a patent dispute with Samsung Electronics Co., Ltd. (KRX:005930). The patent disputes revolved around touchscreen and voice transmission technology. A cross licensing deal was signed by both companies to end the dispute. The terms of the agreement according to Ericsson will boost fourth quarter earnings by $512 billion. Moreover, as part of the settlement, Samsung pay royalties to Ericsson for a number of years. The payment period of the royalties are undisclosed at the moment.